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Thread: Multibillionaire Ray Dalio speaks on how to reduce wealth inequality in America -- 60 minutes clip

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    Multibillionaire Ray Dalio speaks on how to reduce wealth inequality in America -- 60 minutes clip

    It's not rocket science




    I know the standard retort by those on the right is to say (to Ray ) "well, then send the IRS more of your money".

    No, that's anecdotal, that's not a policy. Brains are required to make good policy.
    Guns do not kill people, people kill people.

    Atomic weapons do not kill people, people kill people.

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    Re: Multibillionaire Ray Dalio speaks on how to reduce wealth inequality in America -- 60 minutes cl

    ` ~ "Take those tax dollars and make them productive."

    Yeah - right. OK ... problem solved. Now all we need is a federal government that will actually do that . Good luck !
    money-with-wings_1f4b8.jpg
    "In this present crisis, government is not the solution to our problem; government is the problem."

    January 20, 1981: From Ronald Reagan's Inaugural Address.

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    Re: Multibillionaire Ray Dalio speaks on how to reduce wealth inequality in America -- 60 minutes cl

    Quote Originally Posted by LosAngelesAngel View Post
    ` ~ "Take those tax dollars and make them productive."

    Yeah - right. OK ... problem solved. Now all we need is a federal government that will actually do that . Good luck !
    money-with-wings_1f4b8.jpg


    The ratio between CEOs and the bottom rung was about 50 to one in the 50s, when taxes were very high on the rich. Today, they are about 300 to 1.


    It's not rocket science.
    Guns do not kill people, people kill people.

    Atomic weapons do not kill people, people kill people.

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    Re: Multibillionaire Ray Dalio speaks on how to reduce wealth inequality in America -- 60 minutes cl

    Quote Originally Posted by OscarLevant View Post
    It's not rocket science




    I know the standard retort by those on the right is to say (to Ray ) "well, then send the IRS more of your money".

    No, that's anecdotal, that's not a policy. Brains are required to make good policy.
    Well stated.

    The fact of the matter is you have an entire party whose take on the matter is that fertilizing the leaves of the tree is somehow more beneficial than fertilizing the base of the tree. They seem to think that one mulitbillonaire giving money to another multibillionaire for another mega yacht is better for the economy than a million Joe Public's spending 300 bucks at the grocery store.

    Its truly confusing.

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    Re: Multibillionaire Ray Dalio speaks on how to reduce wealth inequality in America -- 60 minutes cl

    Quote Originally Posted by LosAngelesAngel View Post
    ` ~ "Take those tax dollars and make them productive."

    Yeah - right. OK ... problem solved. Now all we need is a federal government that will actually do that . Good luck !
    money-with-wings_1f4b8.jpg
    So is it your contention that until that starts happening, that that top 1% should continue getting an ever increasing slice of the pie? As we have seen since Reagan started trying to get it implemented, that doesn't work.

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    Re: Multibillionaire Ray Dalio speaks on how to reduce wealth inequality in America -- 60 minutes cl

    ~ Yes - it may not be rocket science , but there is common sense involved that seems to be missing. The point of my comment is you can give government as much tax revenue as you want - what they do with it is another matter entirely.

    Taxes on the Rich Were Not Much Higher in the 1950s | Tax Foundation
    "In this present crisis, government is not the solution to our problem; government is the problem."

    January 20, 1981: From Ronald Reagan's Inaugural Address.

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    Re: Multibillionaire Ray Dalio speaks on how to reduce wealth inequality in America -- 60 minutes cl

    If he is building an argument that the way to alleviate the 'problem' is by making that dumb-ass claim that all you have to do is take money from the wealthy and give it to the government...that's the stupidest ****ing thing Ive heard in a loooooooong time.

    The government is not a player in revenue generation. At BEST what that ****ing moron is claiming that what he would really like to see is the rich become poorer...not the poor become richer.

    Idiot.

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    Re: Multibillionaire Ray Dalio speaks on how to reduce wealth inequality in America -- 60 minutes cl

    Quote Originally Posted by OscarLevant View Post
    It's not rocket science.
    You'd really think it was, though, as much trouble as most people have understanding it. I don't understand at all how conservatives are able to do the mental gymnastics necessary to support the Republican party.

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    Re: Multibillionaire Ray Dalio speaks on how to reduce wealth inequality in America -- 60 minutes cl

    Quote Originally Posted by OscarLevant View Post
    The ratio between CEOs and the bottom rung was about 50 to one in the 50s, when taxes were very high on the rich. Today, they are about 300 to 1.


    It's not rocket science.
    Except that that ratio difference in rewards also existed in BEFORE taxed income. Hence, the difference between now and then was not due to higher income tax rates in the 50s.

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    Re: Multibillionaire Ray Dalio speaks on how to reduce wealth inequality in America -- 60 minutes cl

    Quote Originally Posted by OscarLevant View Post
    The ratio between CEOs and the bottom rung was about 50 to one in the 50s, when taxes were very high on the rich. Today, they are about 300 to 1.


    It's not rocket science.
    Why do people keep bringing up this stupid lie? The average CEO makes roughly 200k which is around 4x the median wage in America. The 300-to-1 ratio is by looking at only the top .0000001% of CEOs, when you are looking at the top of any industry you are going to see those types of numbers. This is like saying professional baseball players are insanely rich, and you would be correct for the Mike Trouts of the world (430 million contract) but then you have minor league players making 25k a year.

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